Lead Story Picture
One-time New Jersey Gov. Jon Corzine is among the former MF Global executives who will shell out nearly $65 million to settle claims they lied to investors about the company's financial stability. (Credit: AP)

MF Global Execs Strike $65M Deal To Settle Investors' Claims

Former New Jersey Gov. Jon Corzine and other former MF Global executives will pay $64.5 million to settle claims that they swindled investors by touting the brokerage's financial health before its fall 2011 collapse, during which $1.6 billion worth of customer money went missing, according to a Tuesday filing.

  • AstraZeneca, Cephalon Pay $54M To End Medicaid Rebate Row

    AstraZeneca LP and Cephalon Inc. have agreed to pay $46.5 million and $7.5 million, respectively, to resolve claims brought by a whistleblower in a False Claims Act suit accusing the drugmakers of knowingly underpaying for rebates owed to the Medicaid Drug Rebate Program, federal prosecutors announced on Monday.

  • SEC Proxy Rules Outdated, 3rd Circ. Says In Wal-Mart Opinion

    The Third Circuit said outdated U.S. Securities and Exchange Commission rules lit its path in deciding that Wal-Mart Stores Inc. could chuck a shareholder’s proposal that the retailer’s board tighten oversight of firearm sales, in a long-awaited opinion Monday backing the court’s April ruling on the case.

  • Holder Says 'Emotional Attachment' Made Covington Top Pick

    In a wide-ranging interview Monday on the occasion of his return to Covington & Burling LLP, former U.S. Attorney General Eric Holder praised the U.S. Supreme Court's same-sex marriage ruling, defended his record on financial crime and spoke of an "emotional attachment" to the white-shoe firm.

  • 9th Circ. Upholds Conviction In Family Insider Trade Scheme

    The Ninth Circuit on Monday upheld a San Francisco federal jury's finding that Bassam Yacoub Salman, through a family scheme, committed securities fraud by receiving insider tips that originated from ex-Citigroup Global Markets Inc. investment banker Maher Kara and were passed on via Kara's brother Michael.

  • Wells Fargo, Others Ordered To Repay $30M Over Fund Sales

    The Financial Industry Regulatory Authority on Monday said it has ordered three large broker-dealers, including Wells Fargo Advisors LLC, to pay more than $30 million in restitution to certain charities and retirement savers that were improperly hit with sales charges on mutual fund purchases.

  • Ex-Madoff Accountant Helped JPMorgan Probe, Feds Say

    Bernie Madoff's personal accountant Paul Konigsberg should receive lenience at sentencing, prosecutors said Thursday, citing his help getting them information that drove a $1.7 billion settlement with JPMorgan Chase & Co. over its alleged failure to report suspicious activity.